EXO-CBX‘s agency, INB100, announced on the morning of the 10th, “In June last year, EXO-CBX amicably resolved the legal matters including the termination of exclusive contracts and filing a complaint with the Fair Trade Commission through a joint statement with SM Entertainment. At that time, both parties resolved the issue through negotiations, believing that it was most important for EXO to continue their activities normally. According to the agreement, the individual activities of the artists and those of EXO CBX are being managed by INB100.”
They continued, “However, SM Entertainment has ignored the terms of the negotiations that were the basis of the agreement and is demanding that INB100 hand over ‘10% of the revenue from the artists’ individual activities.’ INB100 sent a formal objection outlining the unfairness of this demand, but SM Entertainment has not responded for over two months.”
INB100 explained that they are holding the press conference to expose the unfair practices of SM Entertainment.
The press conference will be attended by Chairman Cha Gawon, INB100 CEO Kim Dongjun, and lawyer Lee Jaehak.
